OPEC, Russia said they are not worried about U.S. shale production
OPEC and non-OPEC producers are off to a good start in meeting the goals set in a production cut plan initiated at the start of the year, according to the group.

OPEC’s Joint Ministerial Monitoring Committee (JMMC), designed to check compliance among the countries that have agreed to cut production, met for the first time over the weekend. The JMMC said that the group of producers has already cut 1.5 MMBOPD of the agreed 1.8 MMBOPD.

Permian efficiency wins help boost EERC EnerCom has released its latest Effective Rig Count, examining the state of drilling activity and the reported production from the major shale basins. The Effective Rig Count rose sharply in November, extending the increase seen last month. The EERC is now at 2,907, an increase of 95 compared to the October count. While the[Read More…]